San Francisco Market Update

San Francisco's Q2 housing market capped a banner first half of 2026. After six months of elevated buyer demand, tight inventory, and fast-moving listings, the data reflects what agents have been seeing on the ground all year: San Francisco is firmly in a competitive, high-conviction market.

Q2 was defined by rising prices, shrinking supply, faster sales, and strong overbid activity across both single family homes and condominiums.

Single family homes remained the standout segment. The median sales price rose 22.2% year over year to $2,150,000, while the median price per square foot increased 15.8% to $1,202. Sellers received an average of 125.2% of list price, up from 113.0% last year, and 84.8% of homes sold over asking. That level of overbid activity is exceptional, especially when paired with a 15.8% increase in closed sales and a 49.3% drop in quarter-end inventory.

The condominium market also delivered one of its strongest quarters in years. Closed sales rose 24.4% year over year, pending sales increased 19.3%, and quarter-end inventory fell 40.7%. The median condo sales price rose 6.9% to $1,300,000, while the median price per square foot jumped 11.9% to $1,135. Condos also moved much faster, with median days on market falling from 27 days to just 15 days.

The most encouraging condo metric is competition. In Q2, 57.8% of condominiums sold over list price, up from 40.3% last year. Sellers received 107.8% of list price on average, compared with 102.0% in Q2 2025 — a meaningful shift that shows buyers are re-engaging when the location, presentation, and pricing are right.

Overall, Q2 reinforced San Francisco's position as one of the strongest and most competitive housing markets in the Bay Area. For sellers, preparation and pricing are being rewarded. For buyers, opportunity still exists, but hesitation has become more expensive. The tone heading into the second half of the year is confident, active, and decidedly positive.